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Part II EU Jurisdictions, 5 Italy

Laura Valle

From: Unfair Terms in Banking and Financial Contracts

Edited By: Danny Busch, Matthias Lehmann

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 23 July 2024

Banker-customer contract — Capital markets — Financial regulation

This chapter tackles the unfair terms in banking and financial contracts in Italy. It notes how banking and financial contracts traditionally benefited from the lenient approach of both the legislator and the courts to the possible use of unfair contract clauses. The transposition into the Italian legal system of the Directive on unfair terms in contracts between professionals and consumers (UTD) leads to a new legal environment, even if the protection of the weaker party against unfair terms in banking and financial contracts is still in need of further improvements. The chapter notes the importance of unfair terms controls in the Italian legal system, especially in relation to the control of the content of contractual clauses. It acknowledges the opportunities for challenging unfair contract content to develop in the future, which is of special importance in banking and financial sectors.

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